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Does Declaring Personal Bankruptcy Affect FICO Credit Scores?

April 26, 2017affect Bankruptcy credit declaring FICO scores

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Does Declaring Personal Bankruptcy Affect FICO Credit Scores?

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The majority of those who file have a low FICO credit score. Chapter 7 bankruptcy will show on a credit report for a period of 10 years. Provided that repayments are made on other agreements (mortgage, loans and credit cards), scores will start to improve after a couple of years. Consider taking out a bad credit unsecured credit card to help with the re-building of credit.